1975 - Moneys of the authority.

§  1975.  Moneys of the authority. 1. All moneys of the authority from  whatever source derived shall be paid to the treasurer of the  authority  and  shall  be  deposited  forthwith  in  a  bank  or banks in the state  designated by the authority. The moneys in such accounts shall  be  paid  by  the  treasurer  or  other  agent duly designated by the authority on  requisition of the chairman of the authority or of such other person  or  persons  as  the authority may authorize to make such requisitions.  All  deposits of such moneys, shall, if required by the authority, be secured  by obligations of the United States or of the state of  New  York  of  a  market  value  equal  at  all times to the amount of the deposit and all  banks and trust companies are authorized to give such security for  such  deposits.  The  obligations shall either be deposited with the treasurer  or be held by a trustee or agent  satisfactory  to  the  authority.  The  comptroller  and  his  legally authorized representatives are authorized  and empowered from time to time to examine the accounts and books of the  authority, including its  receipts,  disbursements,  contracts,  leases,  sinking  funds, investments and any other records and papers relating to  its financial standing.    2. Notwithstanding any provision of law to the contrary, the authority  is hereby authorized to contribute two hundred million  dollars  to  the  state treasury to the credit of the general fund.    3.  Any  moneys  of  the authority, including the proceeds of bonds or  notes, not required for immediate use may,  at  the  discretion  of  the  authority  be  invested  in  obligations  of  the state or of the United  States of America or obligations the principal of and interest on  which  are  guaranteed  by the state or the United States of America, or in any  other obligations in which the comptroller of the state of New  York  is  authorized  to  invest  pursuant  to  section  ninety-eight of the state  finance law.    4. The authority shall have power to contract with holders of  any  of  its bonds or notes, as to the custody, collection, securing, investment,  and  payment of any moneys of the authority, of any moneys held in trust  or otherwise for the payment of bonds or notes, and to  carry  out  such  contract.  Moneys held in trust or otherwise for the payment of bonds or  notes or in any way to secure bonds or notes and deposits of such moneys  may be secured in the same manner as moneys of the  authority,  and  all  banks  and trust companies are authorized to give such security for such  deposits.    5. Subject to the provisions  of  any  contract  with  bondholders  or  noteholders  and to the approval of the comptroller, the authority shall  prescribe a system of accounts.